Cannabis Coin (CANN) has skyrocketed by over 1000% this month as 1 CANN is set to become "officially" redeemable for 1 gram of cannabis, starting tomorrow at the "Yes We CANN" event at Phoenix's Herbal Wellness Center.
Prior to October 1, the coin was trading at 1150 satoshi. It now trades at over 14,000 ($0.053) and earlier hit 16,000.
In the US, Cannabis reportedly costs in the range of $29-$71 per 1/8 ounce, depending on the use (recreational vs medical) and the method of sale (dispensary vs street). This translates to about $8-$20 per gram, which theoretically makes the coin a huge bargain even at current prices. There will be limits on the amount that can be redeemed per day.
The coin has ascended from relative obscurity among the multitude of Altcoins to now rank 12th in market cap, now worth $5.1 million, placing it ahead of what had been some relatively prominent coins.
According to its website, "CannabisCoin is the payment solution for Marijuana dispensaries, retailers and merchants." It seeks to remedy the challenges faced by medical marijuana dispensaries in 20 states (and those for recreational use in Colorado and Washington) in securing banking or credit card services. Though local laws may permit their activities, even state banks are wary of engaging in what can be considered risky behavior. Most transactions or therefore performed in cash or money orders.
The coin thus shares a similar vision to PotCoin or MaryJaneCoin, which also seek to Leverage cryptocurrency to further the marketability of marijuana. Previously, both have also experienced gains on the scale of 1000% within very short periods.
The coin is mostly traded on Bittrex and Cryptsy, with a total 24h trading volume currently equivalent to $118,000 across all exchanges. Volumes were considerably higher 4 days ago during the height of the excitement.
Cannabis Coin (CANN) has skyrocketed by over 1000% this month as 1 CANN is set to become "officially" redeemable for 1 gram of cannabis, starting tomorrow at the "Yes We CANN" event at Phoenix's Herbal Wellness Center.
Prior to October 1, the coin was trading at 1150 satoshi. It now trades at over 14,000 ($0.053) and earlier hit 16,000.
In the US, Cannabis reportedly costs in the range of $29-$71 per 1/8 ounce, depending on the use (recreational vs medical) and the method of sale (dispensary vs street). This translates to about $8-$20 per gram, which theoretically makes the coin a huge bargain even at current prices. There will be limits on the amount that can be redeemed per day.
The coin has ascended from relative obscurity among the multitude of Altcoins to now rank 12th in market cap, now worth $5.1 million, placing it ahead of what had been some relatively prominent coins.
According to its website, "CannabisCoin is the payment solution for Marijuana dispensaries, retailers and merchants." It seeks to remedy the challenges faced by medical marijuana dispensaries in 20 states (and those for recreational use in Colorado and Washington) in securing banking or credit card services. Though local laws may permit their activities, even state banks are wary of engaging in what can be considered risky behavior. Most transactions or therefore performed in cash or money orders.
The coin thus shares a similar vision to PotCoin or MaryJaneCoin, which also seek to Leverage cryptocurrency to further the marketability of marijuana. Previously, both have also experienced gains on the scale of 1000% within very short periods.
The coin is mostly traded on Bittrex and Cryptsy, with a total 24h trading volume currently equivalent to $118,000 across all exchanges. Volumes were considerably higher 4 days ago during the height of the excitement.
Binance Trial on Ice in Nigerian Court as Lawyers Demand Missing Documents
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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